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July 23 (Bloomberg) -- Representative Randy Neugebauer is seeking more information from the Federal Reserve Bank of New York on its communications with banks that are involved in setting the London interbank offered rate.
Neugebauer asked for all communications from August 2007 until July of this year between employees of the New York Fed and staff at the 16 banks that submit Libor rates, the Texas Republican said in a letter released today.
“There are still many outstanding questions that merit further investigation,” he said in the letter addressed to William C. Dudley, president of the regional Fed bank. On July 13, the New York Fed released documents showing it was aware that Barclays Plc underreported Libor rates in 2008.
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